10:14 AM EST - Excelsior Energy Limited : and Athabasca Oil Sands Corp. announced they have entered into an arrangement agreement whereby AOSC will acquire all of the issued and outstanding common shares of Excelsior by way of Plan of Arrangement under the Business Corporations Act (Alberta). Under the Transaction, Excelsior's shareholders will receive, for each Excelsior Share held, at the election of the holder, either (i) $0.36 cash; or (ii) 0.0347 of a common share of AOSC. Holders of Excelsior common share purchase warrants who do not exercise their Excelsior Warrants prior to closing of the Transaction will exchange their Excelsior Warrants for warrants to purchase AOSC Shares based on the same ratio applied to the Excelsior Shares, and expiring on the second anniversary of the closing of the Transaction. Excelsior Energy Limited
shares V.ELE are trading up $0.005 at $0.37.
